Splitit is a technology of installment payments. Now your card should be charged for an amount of the first installment and the outstanding balance put on hold on your credit card.
On your monthly statement, you will be able to see the installment charges that were paid using that credit card. In addition to these scheduled charges, our system will place a hold (authorization) which will recycle every 21 days from the previous one. This is needed as the hold can’t be held forever and to decrease the amount that is being held. The held money will be still on your account, even though temporarily unavailable for use.
While the held amount lowers your credit line, only installment charges that were paid on your card will show up on your statement.
The benefit of using Splitit is that instead of charging your full purchase amount to your credit card, you are only charged one monthly installment at a time. That’s the only amount you will have to pay on your next monthly statement.